Quote:
Originally Posted by jeffk
Under Clinton, when welfare was cut, economic disaster was predicted when people lost welfare payments. Instead, most people went out and got jobs and did fine.
The side benefit was the economy grew because more people were participating and government support costs dropped.
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My major question with this is how much did the technological boom contribute to that decade's success? From '95-'02, it seemed like everybody had money--I was selling $10k+ plasma TVs and $500+ DVD players like they were going out of style. As a home theatre salesman, I was buying Audis and Rolexes.
When the bottom dropped out, in '02 or so?, my income plummeted as did almost every one of my techie/engineer friends'. Many of them were out of work for years or took way lower paying jobs, which directly impacted all job sectors.
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